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The SEC has cited UBS for not implementing policies and procedures that provided all the relevant information about highly complex instruments.
UBS will be paying $19.5 million to the SEC to settle charges that it “made false or misleading statements and omissions” when offering materials to U.S. investors who were sold structured notes tied to a proprietary foreign exchange trading strategy, say SEC officials. The SEC is not alleging that UBS officials intended to defraud investors...
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